Brokerages Set Asana, Inc. (NYSE:ASAN) Target Price at $14.07

Asana, Inc. (NYSE:ASAN) has earned an average recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.21.

ASAN has been the subject of a number of research reports. Piper Sandler dropped their price objective on shares of Asana from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Oppenheimer dropped their price target on shares of Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. KeyCorp reduced their price objective on Asana from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. decreased their target price on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Finally, Robert W. Baird cut their price target on Asana from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th.

Insider Buying and Selling

In other news, insider Eleanor B. Lacey sold 4,977 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the transaction, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Asana news, COO Anne Raimondi sold 29,807 shares of Asana stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at $9,125,445.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the sale, the insider now owns 370,333 shares of the company’s stock, valued at approximately $4,366,226.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,092 shares of company stock worth $527,668 over the last 90 days. 63.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently modified their holdings of the business. Headlands Technologies LLC increased its position in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the period. Redwood Wealth Management Group LLC purchased a new position in shares of Asana in the 2nd quarter valued at approximately $65,000. Daiwa Securities Group Inc. increased its holdings in shares of Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Asana by 139.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of Asana during the second quarter worth $146,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Price Performance

Shares of ASAN opened at $11.95 on Tuesday. The firm has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $13.44. The stock has a market cap of $2.72 billion, a PE ratio of -10.21 and a beta of 1.14. Asana has a 1-year low of $11.05 and a 1-year high of $23.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same quarter last year, the firm earned ($0.31) EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts forecast that Asana will post -1.14 EPS for the current year.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.